The Manufacturers Life Insurance Company Grows Stake in Sally Beauty Holdings, Inc. (NYSE:SBH)

The Manufacturers Life Insurance Company raised its stake in Sally Beauty Holdings, Inc. (NYSE:SBH) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,196 shares of the specialty retailer’s stock after purchasing an additional 1,395 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Sally Beauty were worth $549,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SBH. Marshall Wace LLP purchased a new position in Sally Beauty in the second quarter valued at about $11,796,000. Dimensional Fund Advisors LP raised its position in Sally Beauty by 34.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,287,674 shares of the specialty retailer’s stock valued at $35,276,000 after purchasing an additional 833,720 shares during the period. Millennium Management LLC raised its position in Sally Beauty by 945.0% in the second quarter. Millennium Management LLC now owns 847,956 shares of the specialty retailer’s stock valued at $9,099,000 after purchasing an additional 766,815 shares during the period. Invenomic Capital Management LP raised its position in Sally Beauty by 96.8% in the first quarter. Invenomic Capital Management LP now owns 1,223,728 shares of the specialty retailer’s stock valued at $15,199,000 after purchasing an additional 601,903 shares during the period. Finally, Wasatch Advisors LP increased its position in shares of Sally Beauty by 16.8% during the first quarter. Wasatch Advisors LP now owns 3,731,016 shares of the specialty retailer’s stock worth $46,339,000 after acquiring an additional 535,753 shares during the last quarter.

Sally Beauty Stock Up 1.5 %

Shares of Sally Beauty stock opened at $12.73 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 2.12 and a debt-to-equity ratio of 1.69. The firm has a market cap of $1.32 billion, a P/E ratio of 8.66 and a beta of 1.53. Sally Beauty Holdings, Inc. has a fifty-two week low of $7.30 and a fifty-two week high of $13.94. The business has a 50-day moving average price of $12.65 and a 200 day moving average price of $11.56.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $942.30 million during the quarter, compared to analyst estimates of $931.77 million. Sally Beauty had a return on equity of 31.88% and a net margin of 3.99%. Sally Beauty’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. On average, sell-side analysts forecast that Sally Beauty Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Piper Sandler dropped their target price on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $12.00 target price on shares of Sally Beauty in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Sally Beauty has a consensus rating of “Hold” and an average price target of $11.00.

Sally Beauty Profile

Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply and Beauty Systems Group. The Sally Beauty Supply segment offers beauty products, including hair color and care products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.